Creative Planning Invests $142,000 in Clarivate Plc (NYSE:CLVT)

Creative Planning purchased a new stake in Clarivate Plc (NYSE:CLVT) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,999 shares of the company’s stock, valued at approximately $142,000.

Several other hedge funds have also recently bought and sold shares of the stock. Handelsbanken Fonder AB increased its position in shares of Clarivate by 18.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 114,100 shares of the company’s stock worth $810,000 after purchasing an additional 17,900 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Clarivate during the second quarter worth about $258,000. Truist Financial Corp acquired a new stake in shares of Clarivate during the second quarter worth approximately $63,000. Algert Global LLC bought a new position in shares of Clarivate in the second quarter valued at approximately $172,000. Finally, Clearline Capital LP boosted its holdings in shares of Clarivate by 141.2% in the 2nd quarter. Clearline Capital LP now owns 2,088,422 shares of the company’s stock worth $11,883,000 after acquiring an additional 1,222,646 shares in the last quarter. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on CLVT. Royal Bank of Canada cut their price objective on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Barclays reduced their price target on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Finally, William Blair downgraded shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.25.

Insider Activity at Clarivate

In other Clarivate news, insider Bar Veinstein sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total value of $840,000.00. Following the completion of the sale, the insider now owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00. Following the sale, the insider now owns 976,583 shares of the company’s stock, valued at $6,836,081. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Saurabh Saha sold 17,646 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares of the company’s stock, valued at $160,251.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,646 shares of company stock worth $1,379,111 in the last ninety days. Company insiders own 22.77% of the company’s stock.

Clarivate Price Performance

CLVT opened at $4.59 on Wednesday. The company has a fifty day moving average price of $6.51 and a two-hundred day moving average price of $6.25. The firm has a market capitalization of $3.26 billion, a PE ratio of -2.32 and a beta of 1.18. Clarivate Plc has a 52 week low of $4.43 and a 52 week high of $9.60. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.88.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The business had revenue of $622.20 million during the quarter, compared to analysts’ expectations of $640.81 million. During the same period in the previous year, the firm earned $0.18 earnings per share. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, analysts anticipate that Clarivate Plc will post 0.64 earnings per share for the current year.

Clarivate Company Profile

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.